AUD/USD ending the week just above the 2013 low. Initial resistance is now noted at Friday’s high but we will continue to look for a close above the $0.9343 level to relieve the immediate bearish pressure and hint at a bigger bounce back towards $0.9665. Overall lower levels remain favoured with spikes below the lower Bollinger band expected.
R 4: $0.9343 – High June 26
R 3: $0.9320 – 21 day moving average
R 2: $0.9250 – High July 2
R 1: $0.9178 – High July 5
Latest price: 0.9055
S 1: $0.9046 – 2013 low July 3
S 2: $0.8984 – 21 day lower Bollinger band
S 3: $0.8771 – Low Aug 25 2010
S 4: $0.8634 – Low July 19 2010
NZD/USD sees the new week in a precarious position with a break lower with spikes below the 21 day lower Bollinger band favoured this week. Topside a close above the $0.7897 level is needed to relieve the immediate bearish pressure and hint at a bounce back to $0.8154.
R 4: $0.8154 – High May 29
R 3: $0.7897 – High June 20
R 2: $0.7858 – High June 26/July 4
R 1: $0.7851 – 21 day moving average
Latest price: 0.7712
S 1: $0.7685 – 2013 low June 21
S 2: $0.7629 – 21 day lower Bollinger band
S 3: $0.7621 – Low June 8 2012
S 4: $0.7461 – 2012 low May 23
The 200-DMA remains key for the AUD/JPY once again this week with the pair having failed on its attempts to break higher last week. While the 200-DMA caps test of the Jpy88.80-00 region remain favoured, followed by an eventual break lower that tests the Jpy85.27 level. A close back above the 200-DMA would relieve the immediate bearish pressure and see focus shift to retests of the Jpy96.00-05 region.
R 4: Jpy96.02 – Previous daily sup now res
R 3: Jpy94.66 – High June 6
R 2: Jpy93.79 – High June 10
R 1: Jpy92.64 – 200 day moving average
Latest price: 91.78
S 1: Jpy89.61 – Low June 25
S 2: Jpy89.05 – 21 day lower Bollinger band
S 3: Jpy88.82 – Low Dec 31 2012
S 4: Jpy87.55 – Low Dec 21 2012
USD/KRW taking out the Krw1152.2 resistance level to end last week the pair is now focused on tests of the 2013 high. While the Krw1130.1 support level remains in play we will target an overall break of the 2013 high and an extension higher that tests the 2012 high. A close back below the Krw1130.1 support is needed to see the immediate focus shift back to tests of the Krw1108.4 support.
R 4: Krw1186.7 – 2012 High June 4
R 3: Krw1176.2 – High June 8 2012
R 2: Krw1166.0 – 2013 high June 24
R 1: Krw1162.9 – 21 day upper Bollinger band
Latest price: 1152.7
SUP 1: Krw1137.6 – Low July 4
SUP 2: Krw1130.1 – Low July 2
SUP 3: Krw1125.6 – Low June 14
SUP 4: Krw1119.2 – Low June 10
A bullish end to last week for USD/SGD with the pair closing just below the fresh 2013 highs. The pair appears to be on track for a continuation higher that tests the Sgd1.2970-00 region with a spike above the 21 day upper Bollinger band needed to confirm this. The daily slow stochastic, RSI and momentum studies are at neutral levels and have room to move on another leg higher.
R 4: Sgd1.2924 – 200 week moving average
R 3: Sgd1.2847 – High June 25 2012
R 2: Sgd1.2841 – 21 day upper Bollinger band
R 1: Sgd1.2820 – 2013 high July 5
Latest price: 1.2812
S 1: Sgd1.2695 – Low July 3
S 2: Sgd1.2622 – Low June 27
S 3: Sgd1.2486 – 100 day moving average
S 4: Sgd1.2407 – Low June 7